Streaming issues? Report here
Temp 702 logo 1000 x 1000 2020 Temp 702 logo 1000 x 1000 2020
Best of 702
00:00 - 04:00
volume_up
volume_mute

Up Next: Early Breakfast with Africa Melane
See full line-up
Best of 702
00:00 - 04:00
Home
arrow_forward
Business
fiber_manual_record
Politics

Foreign investors will watch SA companies' response to catastrophe - Jacko Maree

15 July 2021 6:53 PM
Tags:
Economy
Durban
The Money Show
Looting
Bruce Whitfield
Standard Bank Group
Foreign investment
Jacko Maree
Riots
N3
President Cyril Ramaphosa
Liberty Group SA
Special Envoy on Investment to the President of the Republic of South Africa
SA Inc
civil unrest
Special Envoy on Investment
supply chain disruption

Bruce Whitfield interviews Jacko Maree, Presidential Special Investment Envoy, about the prospects for rebuilding SA's reputation.
© tintin75/123rf.com

There's a rapidly growing list of companies quantifying their losses due to looting and supply chain disruptions in Gauteng and KwaZulu-Natal.

Among the latest foreign targets of the unrest in KZN are South Korea's electronic giants LG and Samsung.

What does this all mean for South Africa's prospects of economic recovery and rebuilding its reputation abroad?

Bruce Whitfield talks to Jacko Maree, Special Investment Envoy for President Cyril Ramaphosa.

Jacko Maree, President’s Special Investment Envoy at 702

RELATED: SA Inc a hard sell, but areas of 'enormous interest' to foreign investors

RELATED: Meet Jacko Maree, tasked by the President to get R1.2 trillion in investments

Maree is also Chairperson of the Liberty Group and Deputy Chair of the Standard Bank Group, of which he was the CEO for 13 years.

The short-term concern he says is to get the economy up and running as quickly as possible.

Of critical importance is securing the N3 highway to restore the transport link between Durban port and Gauteng.

As investment envoys we have been talking to the relevant people in government to push this ahead, as obviously this is the most important artery in the country, for the movement of goods in particular.

Jacko Maree, Special Envoy on Investment to the President of the Republic of SA

The messages are going through loud and clear.

Jacko Maree, Special Envoy on Investment to the President of the Republic of SA

As investment envoy, Maree of course has to address the longer-term consequences in terms of damage to South Africa's reputation.

He foresees that foreign investors will be sitting on the sidelines for a while to come.

We have to recognise that the focus is going to have to be primarily on investment from local companies and restoration of infrastructure and so on...

Jacko Maree, Special Envoy on Investment to the President of the Republic of SA

I think foreign investors are likely to sit on the sidelines and watch to see how South Africa responds to this catastrophe.

Jacko Maree, Special Envoy on Investment to the President of the Republic of SA

I think South African companies will move quickly to restore what they've lost... That is what foreign investors will look at primarily because when you're looking at building a factory, or a mine or renewable energy plant clearly the destruction of physical property will be your highest concern.

Jacko Maree, Special Envoy on Investment to the President of the Republic of SA

Listen to the interview with Jacko Maree on The Money Show:


This article first appeared on CapeTalk : Foreign investors will watch SA companies' response to catastrophe - Jacko Maree




15 July 2021 6:53 PM
Tags:
Economy
Durban
The Money Show
Looting
Bruce Whitfield
Standard Bank Group
Foreign investment
Jacko Maree
Riots
N3
President Cyril Ramaphosa
Liberty Group SA
Special Envoy on Investment to the President of the Republic of South Africa
SA Inc
civil unrest
Special Envoy on Investment
supply chain disruption

More from Business

More from Politics